Annual Report of State-Chartered Credit Unions

2009·2.7 MB·English

by  North Carolina. Credit Union Division.

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CREDIT UNION DIVISION
DEPARTMENT OF COMMERCE
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STATE LIBRARY Of
WORTH CAROLINA
RALEIGH
2009 ANNUAL REPORT
OF
STATE CHARTERED CREDIT UNIONS

CREDIT UNION DIVISION
DEPARTMENT OF COMMERCE
Jerrie K. Jay
Administrator
Mail Address: 4314 Mail Service Center
Raleigh, North Carolina 27699-4314
Location: 205 West Millbrook Road, Suite 105
Raleigh, North Carolina 27609
Telephone [phone]
Facsimile [phone]
www.nccud.com
[email protected]
The financial data contained in this report was compiled by Sandy Tapley from
information derived from the December 31, 2009, call reports submitted by all state
chartered, federally insured credit unions.
Digitized by the Internet Archive
in 2019 with funding from
State Library of North Carolina
https://archive.org/details/annualreportofstOOnort
State of North Carolina
Credit Union Division
Beverly Eaves Perdue Jerrie K. Jay
Governor Administrator
April 26, 2010
The Honorable Beverly Eaves Perdue
Governor of North Carolina
State Capitol
Raleigh, North Carolina 27601-2905
Dear Governor Perdue:
I respectfully submit the “2009 Annual Report of State Chartered Credit Unions.” This report provides
financial information for North Carolina state chartered credit unions. It also provides information
regarding the Credit Union Division and the Credit Union Commission. Credit unions provide
convenient and quality services to their members and strive to serve the citizens of North Carolina.
As of December 31, 2009, there were 52 natural person state chartered credit unions in North Carolina,
compared to 63 in 2008. The Division also supervises a state chartered corporate credit union. The
decline in the number of credit unions generally reflects the mergers of smaller credit unions into larger
credit unions. Mergers allow a wider variety of services to be offered to the members and preserve a
financial choice for the consumer.
North Carolina credit unions continued to grow during the past year. The following pages detail the
overall financial condition of state chartered credit unions. As of December 31, 2009, (excluding the
corporate credit union) there were 1,989,972 credit union members, and assets totaled $22,122,736,196.
Loans totaled $14,319,469,634; savings totaled $20,312,518,427.
The overall condition of North Carolina credit unions is sound and we anticipate continued growth in
2010. North Carolina credit unions will continue to meet the challenges of the financial industry through
dedicated service to their members.
With warm personal regards, I remain,
4314 Mail Service Center, Raleigh, North Carolina 27699-4314
Physical Location: 205 W. Millbrook Road, Suite 105, Raleigh, North Carolina 27609
Telephone [phone] * Telefax 919-420-7919
An Equal Opportunity/Affirmative Action Employer

TABLE OF CONTENTS
Background.1
Division Personnel.5
Credit Union Commission.11
Chartering Activity.15
Credit Union Listing by Asset Size.19
Financial Performance.25
Overview.27
Credit Union Balance Sheets 29